China will eliminate tariffs for nearly all African countries
China is set to eliminate tariffs for all African countries, except for Eswatini, starting May 1, as announced by President Xi Jinping.
China has announced a significant change in its trade policy regarding Africa, indicating that starting May 1, it will abolish tariffs for nearly all African countries, with the notable exception of Eswatini. This decision was communicated by Chinese President Xi Jinping on February 14 and was reported by state media. Until now, China already practiced zero tariffs for imports from 33 African nations, and the recent announcement is seen as part of China's broader strategy to strengthen its economic ties and influence across the continent.
This move comes as China continues to expand its presence in Africa, where it has established itself as the largest trading partner and a key player in financing major infrastructure projects through initiatives like the Belt and Road Initiative. The elimination of tariffs is expected to facilitate trade and economic growth within African nations, allowing for easier access to Chinese markets and boosting exports from these countries. By excluding Eswatini from this policy, China seems to be leveraging its diplomatic relationships β Eswatini is one of the few countries that maintains formal ties with Taiwan, which China considers as a breakaway province.
Overall, this policy shift reinforces China's commitment to enhancing cooperation with Africa while strategically managing its diplomatic relationships. It also highlights the growing importance of Africa in global trade dynamics and China's intention to maintain its leading role in driving development projects in the region. As African countries look to recover economically post-pandemic, this tariff removal could be a catalyst for growth and collaboration, especially within sectors reliant on trade with China.